Property is still seen as the best short and long term investment according to research by GMAC RFC.
Despite the reports of a slowdown in house price growth, the research shows 46 per cent of British people consider property the best form of investment in the current financial climate, well above stocks and shares.
The research shows 68 per cent of British people think that property will yield the best return over 25 years, while only 13 per cent believe stocks and shares will yield the best return over a 25 year period.
It also shows if British people had an unexpected windfall of £15,000, 46 per cent would put it straight into property, 22 per cent in a savings account, 19 per cent would go on a savings spree and 6 per cent would invest in stocks and shares.
Despite the findings GMAC RFC has found 77 per cent of the 800 adults questioned has not remortgaged over the last five years. Of those who had remortgaged, 31 per cent released equity for home improvements and 12 per cent remortgaged to free capital to reinvest in further property.
GMAC RFC head of marketing services Jeff Knight says: “Our research reveals how attitudes have altered from traditional methods of investment. Property is now being used as an investment in many diverse ways, from those with several properties or buy to let mortgages to those who simply invest in their own home.”